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MEETING OF CREDITORS

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Mandatory meeting of a person that files for a Chapter 7 or 13 bankruptcy, usually about a month after filing, where there is a meeting of the debtor and creditors to discuss the issues concerning the bankruptcy, why it should or should not be granted as well as any payment terms as part of a payment plan. At the meeting, the trustee in charge of the bankruptcy will review the payment plan.

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